OREANDA-NEWS  On 10 November was announced, that Credit-Rating published list of rating actions in October 2008. October saw 13 rating assigned by Credit-Rating, 2 ratings have been upgraded, 7 ratings have been downgraded, outlooks on 17 ratings have been revised, 6 ratings have been suspended, 2 ratings have been withdrawn and 1 rating has been placed on Rating Watch List.

ISSUER RATINGS

Municipal sector

October 22 City of Sumy: a long-term investment grade rating of uaA- has been assigned to the city.

Corporate sector

October 10 Fozzy-Food LLC (Kiev): a long-term investment grade rating of uaA- has been assigned to the company.

Financial sector

October 31 National Credit Bank JSCB (Kiev): the long-term investment grade rating of uaBBB has been placed on Rating Watch List with negative outlook.

ISSUE RATINGS

Municipal sector

October 22 Sumy City Council: a long-term investment grade rating of uaA- has been assigned to upcoming issue of coupon bonds (series A) for the amount of UAH50m due 2013.

Corporate sector

October 1 Krug-Budinvest LLC (Cherkassy): the long-term credit rating assigned to issue of registered housing bonds (series A-C) for the amount of UAH24.2m with 3-year original maturity has been downgraded to uaBB+ from uaBBB.

October 2 Firma Astarta-Centre OJSC (Kiev): the long-term investment grade rating of uaBBB- has been assigned to upcoming issue of registered housing bonds (series  E-F) for the amount of UAH41.8m due Nov. 15, 2009.

October 2 Kovelmoloko OJSC (Volyn Oblast): the long-term credit rating assigned to registered coupon bonds (series A) for the amount of UAH50m with 3-year original maturity has been downgraded to uaBB from uaBBB-.

October 3 Gradostroy LLC (Kiev): the long-term credit rating assigned to registered housing bonds (series I-P) for the amount of UAH23.5m due Dec. 22, 2008 has been downgraded to uaB from uaBB-.

October 6 Kharkivmiskbud LLC (Kharkiv): the long-term credit rating assigned to registered housing bonds (series F-L) for the amount of UAH30.3m with 4-year original maturity has been upgraded to uaBB from uaB.

October 7 SK Citadel LLC (Kiev Oblast): the long-term credit rating assigned to registered housing bonds (series A-E) for the amount of UAH178.9m due June 30, 2008 has been downgraded to uaCCC from uaB-.

October 8 Chernihiv Plant for Building Materials LLC (Chernihiv): the long-term credit rating assigned to registered housing bonds (series C-E) for the amount of UAH87.7m due Jan. 31, 2010 has been downgraded to uaCCC from uaB+, with the rating outlook revised to stable.

October 9 MP Solidarnost LLC (Kiev): the long-term credit rating assigned to registered housing bonds (series D-J) for the amount of UAH60.5m due Jan. 23, 2009 has been downgraded to uaBB from uaBBB-, with the rating outlook revised to stable.

October 10 Fozzy-Food LLC (Kiev) a long-term investment grade rating of uaA- has been assigned to upcoming issue of registered coupon bonds (series B) for the amount of UAH100m, with 5-year original maturity.

October 13 Kyiv Testing Repair and Mechanical Works OJSC (Kiev): a long-term speculative grade rating of uaB+ has been assigned to registered housing bonds (series A-E) for the amount of UAH14.6m due Jan. 29, 2010.

October 16 FCC Sozidatel LLC (Dnepropetrovsk): the long-term credit rating assigned to registered housing bonds (series A-G and series H) for the amounts of UAH144.9 and UAH24.5m respectively, due Jul. 15 2009 and Jun. 30, 2009 has been upgraded to uaBBB+ from uaBBB-, with the rating outlook revised to stable.

October 17 Sumykhimprom OJSC (Sumy): a long-term investment grade rating of uaBBB- has been assigned to upcoming issue of registered coupon bonds (series C) for the amount of UAH120m, with 5-year original maturity.

October 20 Agroprodukt LLC (Odessa): a long-term speculative grade rating of uaCCC has been assigned to upcoming issue of registered coupon bonds (series A) for the amount of UAH65m, with 5-year original maturity.

October 21 Kompaniya po Torgivli LLC (Odessa): a long-term speculative grade rating of uaCCC has been assigned to upcoming issue of registered coupon bonds (series A) for the amount of UAH65m, with 5-year original maturity.

October 23 Manufaktura LLC (Kiev Oblast): a long-term speculative grade rating of uaB+ has been assigned to upcoming issue of registered coupon bonds (series A, B) for the amount of UAH30m due Dec. 4, 2011.

October 24 Dniprozhylbud CJSC (Kiev): a long-term speculative grade rating of uaB- has been assigned to upcoming issue of registered housing bonds (series V-AT) for the amount of UAH77m, with 2-year original maturity.

October 27 Kyivmedpreparat OSJC (Kiev): the long-term investment grade rating assigned on Sep. 28, 2007 to registered coupon bonds (series A) for the amount of UAH30m, with 4-year original maturity has been affirmed at uaBBB.

October 29 Konkuritto LLC (Dnepropetrovsk): a long-term speculative grade rating of uaB- has been assigned to upcoming issue of registered housing bonds (series A-L) for the amount of UAH308.5m due Dec. 31, 2013.

October 30 Poltavamotorservice PE (Poltava): a long-term credit rating assigned to registered coupon bonds (series A) for the amount of UAH19m due Jul. 22, 2012 has been downgraded to uaCCC from uaB-, with the rating outlook revised to negative.

Financial sector

October 3 Galaxy Insurance Company CJSC (Kiev): a long-term credit rating assigned to registered coupon bonds (series B) for the amount of UAH25m, with 4-yera original maturity has been upgraded to uaBBB- from uaBB+, with the rating outlook revised to stable.

October 8 Energobank JSB (Kiev): a long-term investment grade rating of uaBBB+ has been assigned to upcoming issue of registered coupon bonds (series B) for the amount of UAH65m, with 5-year original maturity. The rating outlook is positive.

October 15 Bank Renaissance Capital LLC (Kiev): a long-term investment grade rating of uaBBB has been assigned to upcoming issue of registered coupon bonds (series B, C) for the amount of UAH300m, with 3-year original maturity.

Credit-Rating agency has operated in the Ukrainian market since 2001 being committed to assignment of the national scale ratings. The agency has assigned 949 ratings, specifically to 729 Ukrainian companies, 163 financial institutions and 56 municipalities and their debts, and 1 corporate governance rating.

As of Nov. 1, 2008 Credit-Rating maintains monitoring of 794 ratings, in fact 602 of corporate, 144 of financial and 48 of municipal sectors.